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Zimbabwe Banking Sector Approves 10% Wage Increase For 2025

2 days agoWed, 05 Feb 2025 12:56:30 GMT
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Zimbabwe Banking Sector Approves 10% Wage Increase For 2025

Zimbabwe’s banking sector has approved a 10% wage increase for its employees in 2025. The lowest-paid worker will earn US$709 per month, while the highest-paid employee will receive US$1,284.

A collective bargaining agreement notice, dated February 3, 2025, and seen by The Independent, states that employers must pay 73% of salaries in US dollars.

Employers who are unable to meet this requirement may apply for an exemption from the National Employment Council (NEC) for the Banking Undertaking Zimbabwe.

The 10% increase also includes housing and transport allowances.

The agreement also addresses all legacy and disputed issues from salary negotiations that remained unresolved during the second, third, and fourth quarters of 2024.

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